Insolvency

Querist : Anonymous (Querist) 04 March 2011 This query is : Resolved
Hi..
I want to know the process and proceeding of declairing Insolvency.

The person in concern is resident of delhi not a businessmen. He is ex gov employee but have lots of debts, against which he has issued post dated chq. Few of them are bounced as well.

Further the person do not have any property in his name also he dont have any other source of income except govt pension.

Please suggest.

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adv. rajeev ( rajoo ) (Expert) 04 March 2011
He has got pension income so he cannot file insolvency petition to declare him as insolvent

Raj Kumar Makkad (Expert) 04 March 2011
I do agree with rajoo. Such person can only declare him insolvent in Panchayat or association without intervention of court.

DEFENSE ADVOCATE.-firmaction@g (Expert) 10 March 2011
Pension can not be attached. But you can not escape criminal cases.

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